On November 8, the 2019 World Wuzhen Blockchain Conference hosted by Babbitt was held at the Wuzhen Internet International Convention and Exhibition Center. In the special event "Keep MOVing" than the original chain, CTO James brought a topic entitled "Future Chain Predictor". James announced some of the technical achievements of the original chain technology team in 2019, as well as the progress of the entire technology ecological development.
The following content is from James, organized by Babbitt.
- Wuzhen·Yuchain Technology and CEO Luo Wei: Distributed Commercial Infrastructure Based on Blockchain Trusted Data
- Wuzhen·Baidu Blockchain Xiao Wei: Integrating blockchain, AI and other technologies to promote the construction of smart cities into a new stage
- Jamie Burke, founder of Outer Ventures, Wuzhen: New technologies such as blockchain are combined to create the future of “unmanned” systems
- Wuzhen·Conflux CTO Wu Ming: Making the “impossible triangle” of the public chain possible
- Wuzhen·NEO founder Da Hongfei: The next generation of the Internet uses a hierarchical structure
- Wu Jian, founder and CEO of Wuzhen • Coin, Bluehelix: Private key, blockchain asset, is the foundation of the next generation exchange
BastS platform Bystack: makes it easy for companies that don't understand the blockchain
Bystack is a blockchain BaaS platform with multiple main sides. It was established in April this year and officially launched in mid-July. After going online, participate in Staking voting than the original chain community users to get dividend income.
Bystack is a blockchain BaaS platform based on the main sidechain framework. The main chain uses the POM consensus algorithm of the original chain (bytom) to ensure asset security. At the same time, through cross-chain asset mapping, the main chain assets can be chained to other blockchain platforms. It is good to improve the scalability and performance of the main chain. In addition, Bystack solves the triangle problem of blockchain in a layered manner. Users can customize their own sidechains based on Bystack according to their own needs and usage scenarios to solve some vertical domain business needs. For example: information on the chain, points exchange, clear settlement between different companies and other issues.
Many traditional companies are very strange to the blockchain, and it is relatively difficult to get started. Bystack is equivalent to an extra extension over the original chain (bytom), transforming the blockchain's underlying technology into a common tool interface that most people can understand, even if it doesn't understand the traditional Internet at the bottom of the blockchain. Developers can also directly call the interface to interact with the chain to get started developing blockchain applications. It solves the problem of blockchain landing and the difficulty of using blockchain technology.
Side chain (Vapor): performance limit is 160,000 transactions per second
Vapor is the first sidechain developed by the original chain technology team based on the Bystack architecture. Vapor adopts the self-developed BBFT consensus algorithm. BBFT performs parallel verification of the block's block and signature in a parallel way. This way, if a block on a node is out of the block, the block can be directly sent out, but the verification is Parallel execution, so there is no delay interference.
Based on the side chain of Bystack, there are 10 super nodes and 32 candidate nodes, which will pack time in 0.6 seconds, and the bifurcation rate is 0.27%. On Vapor, transactions can be verified in parallel. The limit is the number of 160,000 transactions per second. Due to network delays, the actual measurement can reach 21000/s. Currently, the Vapor is being upgraded than the original development team, and the upgrade can support the secondary module and the OFMF protocol.
Decentralized universal cross-chain protocol OFMF: Let other chain assets cross the original chain
OFMF is a decentralized universal cross-chain protocol. It refers to the multi-signal + threshold method. Why is the threshold used? Because multi-signing can solve the problem, but different blockchains have control over the number of multi-signs. So what is the threshold? The threshold can split a private key into multiple sub-private keys. These N people can be composed from the ecosystem, but when they are formed on the chain, no one knows that the public key is followed by a private key or Multiple sub-private keys. The advantage of this is that if there were four organizational management in the past, then the system of four organizations could break the assets of the chain, but after adopting the threshold technology, any one has already distributed the authority to the community, and the assets need to be taken away. Breaking through the systems of all community participants is the true decentralization.
OFMF is at the end of development, and will open up most common frameworks. It is also an agreement without an access mechanism. In other words, resources on other chains can be crossed to the original chain without the permission of anyone. At the same time, it also made asset management qualifications, which is to achieve three layers of cold, warm and hot assets.
Magnetic coupling agreement MOV: agreement to manufacture stable coins
As a blockchain BaaS platform, Bystack inevitably involves asset exchange, clearing and other services during the use of the company. We launched a smart contract based magnetic coupling protocol (MOV) on Bystack. The MOV agreement is to send the demand you want to exchange assets to the chain through the form of smart contracts, and then the super node will package your needs and meet your needs. We also prevent the super node from doing evil. It has package permissions, but it can't be evil, because our consensus algorithm will verify the packaged logic, and the smart contract will determine if it has done some illegal packaging, so it is completely decentralized. There is also one of the biggest features, it supports chain trading and ring matching.
When the ring is involved in multiple parties, if there are three parties that need to make different exchanges, the MOV can make the three requirements together in one transaction, as long as the exchange rate is equal. The benefit is that the entire market for MOV is extremely stable. Now MOV's TPS is a block that can package more than 8,000 target transactions, so the measured TPS is about 16,000, which has reached the limit of the Internet TPS. Another feature is the MOV support chain, the chain combination, we allow the super node to put it under the chain in the future, using server clusters.
Chain predictor: making truly credible data
What does this have to do with the original chain and Bystack? It is only part of the whole ecology of the original chain. The bottom layer of the ecology has the security of the original chain to ensure the assets. There is a side chain on the upper layer of the main chain to ensure high TPS and high performance. On this basis, an open pipe network is used to exchange assets for the best exchange.
The prophecy is that you want to know what is going on in the future, but now it is trusted by a third party, for example: it tells you the bitcoin of tomorrow and the exchange rate than the original, which is not credible. If all are traded on the chain, the oracle is just a step on the chain. This is very reliable, because Bystack supports ring joins, so it is difficult to change by inciting a node.
MOV online plan: test network released on November 22
At present, MOV has been developed and is expected to be released on November 22nd. This version is a professional interface call. It will invite some professional teams and users to experience and use half a month to do some upgrades and user experience. optimization.
Around December, the community will release a matchmaking contest where community users can participate in testing the performance of the MOV framework. The open gateway OFMF will go live on December 2nd. This version only supports Bitcoin's open gateway. The review of the safety review body will open the Ethereum's open gateway on December 9. At that time, the MOV will be officially launched, and the ecological partners of the original chain can access the MOV system for development. It is expected that in the first quarter of next year, the ecological partners will be able to complete the application development, and the whole will form a perfect closed loop than the original ecology.